Dear SAIS Member

Please take note of the following industry updates:

From the Prudential Authority and the FSCA

  • Joint Standard 2 of 2020 - Margin Requirements for non-centrally cleared over-the-counter (OTC) derivative transactions
    • As previously advised in Joint Communication 3 of 2020, the PA and the FSCA will continue to engage the relevant stakeholders on the implementation date of the Joint Standard.
  • Media statement on the Joint Standard 1 of 2020: Fitness, propriety and other matters relating to significant owners (Joint Standard), in terms of the Financial Sector Regulation Act.9 of 2017 (FSR Act) has been published.A draft of the Joint Standard was first released for public consultation in 2018, which was followed by a revised draft of the Joint Standard for further public consultation on 23 July 2019. A consultation report encapsulating all the comments and responses was prepared by the Authorities.

From the FSCA

  • Financial Markets Notice regarding the Impact of COVID-19 on compliance with Requirements of the FMA, 2012, (ACT NO. 19 OF 2012):
    • Extension notice 4: Extends  the  period  for compliance with  section  90  of the (FMA),  read with  paragraph 8 of Board  Notice 96 of 2013,  in  respect of regulated  persons that are required  to  cause  their  accounting  records  and  annual  financial  statements  to  be audited between 29 February 2020 and 30 April 2020.
    • Extension Notice 5: Extension of period to comply with Disclosure of Financial Information referred to in the Listing of Requirements made under section 11 of the FMA; Extension is for a period of 2 months in respect of issuers with the following financial year ends:  29 February 2020, 31 March 2020 and 30 April 2020.
  • FMA notice on Exemption of Certain Provisions in the Listing Requirements regarding Physical Shareholder Meetings, 2020.   
  • Invitation for comments on the draft Conduct Standard on the Requirements related to the Payment of Pension Fund Contributions
    • Publication of draft Conduct Standard on Requirements related to the payment of pension fund contributions.
    • Interested parties are invited to submit comments on the draft Conduct Standard by 31 July 2020.


SAIS Courses

The Key Individual Role of the Stockbroker in Control
The Certificate course for The Key Individual Role of the Stockbroker in Control is now open for registration.  The course is available to CSb(SA) members in good standing.  This Certificate course is not part of the free CPD offerings, but does have 15 CPD points allocated to it. The cost is R6 300.00 (incl. VAT).  Click here to log into your profile for further details on the course and to register. 

SAIS CPD Offering
We continue to release new CPD courses on our learning platform. The following topics are available immediately. These are all verifiable CPD courses that include short question assessments.